River & Mercantile Asset Management LLP reduced its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 61.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,874 shares of the company’s stock after selling 35,424 shares during the period. River & Mercantile Asset Management LLP’s holdings in Mercadolibre were worth $6,405,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of Mercadolibre during the 3rd quarter worth approximately $42,000. We Are One Seven LLC bought a new stake in Mercadolibre during the 4th quarter valued at $51,000. Larson Financial Group LLC bought a new stake in Mercadolibre during the 4th quarter valued at $59,000. Bogart Wealth LLC raised its position in Mercadolibre by 15.8% during the 4th quarter. Bogart Wealth LLC now owns 374 shares of the company’s stock valued at $109,000 after purchasing an additional 51 shares in the last quarter. Finally, Korea Investment CORP raised its position in Mercadolibre by 142.5% during the 4th quarter. Korea Investment CORP now owns 485 shares of the company’s stock valued at $142,000 after purchasing an additional 285 shares in the last quarter. 91.11% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:MELI traded down $2.37 on Monday, reaching $495.00. The company had a trading volume of 2,677 shares, compared to its average volume of 1,094,255. Mercadolibre Inc has a 52-week low of $257.52 and a 52-week high of $514.90. The company has a market capitalization of $22.34 billion, a PE ratio of -598.17 and a beta of 2.21. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 1.79.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Tuesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.10. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $400.80 million. During the same period last year, the business posted ($1.53) EPS. The business’s revenue was up 19.5% compared to the same quarter last year. Research analysts predict that Mercadolibre Inc will post 0.39 EPS for the current year.
A number of equities research analysts have weighed in on MELI shares. BidaskClub raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 13th. ValuEngine lowered Mercadolibre from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. KeyCorp started coverage on Mercadolibre in a research report on Tuesday, December 18th. They set a “sector weight” rating for the company. Zacks Investment Research raised Mercadolibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $410.00 target price on shares of Mercadolibre in a research report on Wednesday, January 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $425.67.
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MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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